TCS
Confidential 5 Copyright @ 2020 Tata Consultancy Services Limited Prerequisites Before creating Stock Entry, Following prerequisites
are to be fulfilled 1. User Rights – Right for creation of this transaction needs to be given to the concerned user/approver.
Path: Go to Admin Panel >> Manage user Accounts >> Choose User and Modify >> Choose Solution as Finance and Accounting >> Give right as per screenshot below: 2.
Creation of Stock Asset Account In the Ledger account, we have to create accounts with Account type as Stock. These accounts should be in the group of Inventories under Current Assets. Individual accounts should be ideally made for Raw Material,
Finished Goods, etc. as required.
Path: Finance and Accounting >> General Ledger >> Ledger Account >> Select Org Unit >> Create. Screenshot is as under: TCS Confidential
6 Copyright @ 2020 Tata Consultancy Services Limited
3. Voucher Numbering – Just
like other transactions, Voucher numbering for Stock Entry needs to be created.
Path: Finance and Accounting >> General Ledger >> Voucher numbering >> Create >> Choose Document category type as Others and Document Type as ‘Closing Stock. Screenshot is asunder TCS Confidential
7 Copyright @ 2020 Tata Consultancy Services Limited CREATION OF THE TRANSACTION
1. Opening balance during the first year When the
use of the system gets started, the balance of inventories as 01 April needs to be fed into the system through opening voucher of GL module.
Path: FnA >> General Ledger >> Opening Vouchers >> Create. Here, we need to feed the account code of type Stock as created earlier. Screenshot As can
be seen from the image above, the value of RM as on 01-04-2019 is Rs crore, which has been fed as an opening balance. This will reflect in PL and Trial balance.
Share with your friends: 
